Household energy bills are rising very rapidly, and are now expected to be over £4,000 per year by October and possibly over £5,000 per year by early 2023. Many commentators, including most notably Gordon Brown, are saying that we should now nationalise the energy companies and bring bills down. Would that help? It’s rather unclear what is being proposed by those that advocate nationalisation. We can think of the energy sector as having three layers. First, there are those that create or collect energy. These are firms that run wind farms, hydroelectric plants, solar panels or nuclear power stations, or mine coal or drill for oil or gas. At this